Nonco, an institutional crypto trading firm, completed an industry-first derivatives transaction using Franklin Templeton's BENJI token on the Stellar network as collateral. The transaction demonstrated how tokenized assets on Stellar enable faster, more efficient collateral management for OTC derivatives with real-time settlement and transparency.
Nonco, a leading institutional crypto trading firm processing over $5 billion in monthly trading volume, partnered with SwapGlobal to execute an industry-first derivatives transaction using Franklin Templeton's BENJI token—a digital representation of the FOBXX US Government money market fund—as collateral on the Stellar network. Traditional derivatives collateral management faces significant inefficiencies including fragmented processes, slow settlement, high costs, and capital lockup. By leveraging Stellar's tokenized assets, Nonco provided an immutable transaction record and achieved settlement in seconds while maintaining collateral efficiency and yield earnings. The transaction showcases how digital ledger technology addresses market barriers in derivatives trading by enabling institutional-grade assets, fast and low-cost transactions, transparent ledgers, and expanded liquidity for institutions of all sizes.
